Synthetic Biology Market

Synthetic Biology Market Outlook for 2024 to 2034

The synthetic biology market is expected to rise from USD 3.75 billion in 2024 to USD 31.73 billion by 2034, growing at a lucrative 23.8% CAGR over the forecast period. The rising need to enhance practical capabilities, redesign naturally occurring systems, and develop new biological components, tools, and systems is driving the market forward.

The market for synthetic biology is growing rapidly due to the growing demand for bio-based chemicals, renewable fuels, and affordable medications and vaccines that use artificial biology. The growing need for genetically modified crops to feed the expanding global population drives developments in the synthetic biology market.

Synthetic biology is positioned to be a major player in addressing urgent social and environmental concerns as a result of the confluence of technology advancement and growing market needs, which bodes well for further development and innovation during the forecast period.

Key Market Highlights

• The synthetic biology industry is growing more rapidly than traditional medications due to technological developments, including gene synthesis, NGS, DNA sequencing, genetically modified goods, and bioinformatics.
• The demand for synthetic biology is expected to increase over the forthcoming period due to the expanding variety of artificial biology applications for therapeutic gene editing, cellular recording, and multiplexed diagnostics.
• The use of organisms and products derived from synthetic biology techniques in other industries, such as healthcare, agriculture, and energy, is anticipated to have an effect on the growth of the synthetic biology market.
• Biomedicine is substantially advanced by synthetic biology, resulting in substantial healthcare improvements. The market's growth has been greatly aided by research and development initiatives to improve illness treatment alternatives, and this trend is anticipated to continue during the projected decade.
• The emphasis on sustainability and environmental responsibility drives the development of eco-friendly solutions, stimulating the growth of the global synthetic biology market in the forthcoming decade.

Attributes	Details
Synthetic Biology Market Value, 2024	USD 3.75 billion
Projected Market Value, 2034	USD 31.73 billion
Value-based CAGR (2024 to 2034)	23.8%

Historical Performance and Future Growth Prospects of the Synthetic Biology Market

This section provides a comprehensive analysis of the market during the last five years, highlighting the expected growth patterns. The market is changing steadily, as seen by its strong historical CAGR of 21.7% from 2019 to 2023. Based on sustained growth at a 23.8% CAGR through 2034, the industry is predicted to expand in the future.

Historical CAGR	21.7%
Forecast CAGR	23.8%

The global synthetic biology market is expected to face growth barriers from ethical issues, regulatory constraints, and public mistrust about safety.

Crucial factors that are anticipated to affect the demand for synthetic biology through 2034.

• Concerns about environmental effects, safety, and possible abuse of synthetic biology technology have led to public skepticism.
• Consumers need more awareness and acceptance of the application of synthetic biology for the commercialization of the market.
• Problems with patents and intellectual property rights might hinder investments and innovation in the artificial biology sector.
• Economic downturns and geopolitical unrest impact funding and investments in synthetic biology research and development.
• Unforeseen ethical or moral dilemmas arise from manipulating genetic material and organisms through synthetic biology techniques.

Market players are anticipated to need to be astute and adaptable during the anticipated period, as these tough aspects position the industry for future development.

Key Trends Influencing the Synthetic Biology Market

Renewability of the Bio-Based Chemicals Fuels the Synthetic Biology Industry

The growing need for bio-based products and sustainable energy is driving tremendous expansion in the synthetic biology sector. Novel biological systems that can economically and sustainably manufacture a variety of molecules, such as industrial chemicals, medicines, and biofuels, have been made possible using artificial biology approaches.

The advancements in genetic engineering, metabolic engineering, and synthetic biology tools have enabled researchers to engineer microorganisms to produce high-value chemicals and fuels from renewable resources such as biomass, algae, and waste materials.

This has opened up new avenues for developing sustainable and eco-friendly products to address the growing concerns of environmental pollution and energy security, propelling the growth of the global synthetic biology industry.

Rising Interest in Cost-Effective Drugs and Vaccines Surging Market Demand

Global interest in synthetic biology has increased due to the growing need for affordable medications and vaccinations. A whole new range of opportunities for drug discovery and precision medicine are made possible by synthetic biology approaches, which provide a distinctive and inventive approach to designing and engineering biological systems.

Modern developments in synthetic cell biology allow researchers to design whole biological systems, alter already-existing ones, or build new physical components to produce unique solutions.

The goal of creating safe, efficient, and reasonably priced medications and vaccines for a range of illnesses and ailments has led to a rapid expansion of the global synthetic biology industry.

Synthetic Biology Provides Fertile Ground for Genetically Modified Crops

The increased acceptance of genetically modified crops is driving the demand for synthetic biology products in the global market. The demand for sustainable food supplies has grown urgently due to the rising global population.

One practical way to address this problem is through synthetic biology, which can enhance the crop production process. Scientists and researchers can employ improvements in gene editing technology to make crops more resistant to pests and diseases, have longer shelf lives, and produce larger yields.

These benefits drive the adoption of synthetic biology in the agriculture sector and are expected to propel market growth in the coming decade.

Category-wise Insights

Oligonucleotides Constitute a Substantial Industry Share

Attributes	Details
Top Product	Oligonucleotides
Market share in (2024)	43.60%

The demand for oligonucleotides is anticipated to rule the synthetic biology market, with an advantageous market share of 43.6% in 2024. Several reasons exist for this inclination for oligonucleotides in the global synthetic biology market:

• Oligonucleotides are fundamental components of genes that allow for the production of customized DNA sequences.
• In molecular biology procedures such as PCR, DNA sequencing, and gene editing, oligonucleotides are essential.
• Applications of oligonucleotides include genetic engineering, gene therapy, and the creation of synthetic genes.
• Oligonucleotides are essential for synthetic biology research and biotechnological procedures due to their great specificity, repeatability, and scalability.
• Growing applications of oligonucleotides in therapeutics, personalized medicine, and diagnostic tools are driving the segment’s growth.

Biopharmaceutical Manufacturers Reigns Supreme in the Synthetic Biology Industry

Attributes	Details
Top End User	Biopharmaceutical Manufacturers
Market share in 2024	43%

In 2024, biopharmaceutical manufacturing is expected to account for a leading market share of 43%. The following reasons are driving the segment’s growth:

• Manufacturers of biopharmaceuticals use synthetic biology techniques to manipulate microorganisms to generate medicinal chemicals and therapeutic proteins.
• To investigate new synthetic biology medication discovery and development strategies, biopharmaceutical corporations allocate resources to research and development.
• Synthetic biology enterprises work with biopharmaceutical companies to acquire state-of-the-art technology and experience for drug development procedures.
• Biopharmaceutical companies increase the scalability of medication manufacturing, save costs, and streamline production procedures by implementing synthetic biology.
• The global market for synthetic biology is growing due to biopharmaceutical manufacturers' expansion into personalized medicine and precision treatments using synthetic biology technology.

Country-wise Insights

Countries	CAGR from 2024 to 2034
United Kingdom	19%
China	26%
India	27%
Japan	12.5%
Germany	14.8%

Rise in Synthetic Biology Applications in the United Kingdom

The United Kingdom's synthetic biology industry is expected to develop at a staggering CAGR of 19% from 2024 to 2034. The following factors are driving the demand for synthetic biology, which is anticipated to play a crucial role in the growth of the United Kingdom's biopharmaceutical sector:

• With the leading pharmaceutical and biopharmaceutical enterprises, the United Kingdom market is expected to flourish over the forecast period.
• An emphasis on research and development and increased industrialization in the United Kingdom are two of the main drivers driving the synthetic biology market's expansion.
• The United Kingdom's researchers also routinely use synthetic biology products.
• As a result, synthetic biology sales are expected to expand in the United Kingdom.

Germany’s Biopharmaceutical Sector Stimulates Growth in Synthetic Biology Market

The German synthetic biology industry is anticipated to acquire a market share of 8% and is projected to demonstrate an impressive CAGR of 14.8% from 2024 to 2034. Some of the primary drivers of the growth of the German synthetic biology sector include:

• German biopharmaceutical businesses develop microbes to manufacture medicinal chemicals and therapeutic proteins through synthetic biology.
• The number of cancer patients in Germany is rising together with the need for synthetic biology methods since the field is currently developing them for cancer therapy.
• As a result, Germans use synthetic biology products more. Considering this, the German synthetic biology business is highly profitable.

Chinese Synthetic Biology Sector Promotes Biological Advancements

The Chinese market for synthetic biology is poised to rise at a staggering CAGR of 26% through 2034. Among the main trends in the development of the synthetic biology market in China are:

• China is among the most promising countries in the global synthetic biology market.
• China's substantial investment in research and development, fueling innovation and advancement in this burgeoning field of biotechnology, is responsible for the industry's quick rise.
• In the years to come, synthetic biology has the potential to significantly impact the bio-economy, enhance global health, and improve well-being, all because of China's investment.

India Rules the Synthetic Biology Industry

From 2024 to 2034, the Indian market for synthetic biology is anticipated to grow at a consistent rate of 27% CAGR. The following are some significant patterns illustrating the growth of Indian synthetic biology:

• The Indian synthetic biology sector is supported by research and development due to the substantial presence of highly competent scientific people and academic institutions.
• Innovation and entrepreneurship in biotechnology are encouraged in India by the government's initiatives and the favorable regulatory environment.
• Interest in synthetic biology applications is growing in India due to the country's growing need for sustainable energy, healthcare, and agriculture solutions.
• Growing consumer and industry knowledge and acceptance of synthetic biology solutions in India drive market expansion and demand.

Japanese Industries Develops the High Demand for Synthetic Biology

The Japanese synthetic biology market is well-positioned to be a catalyst for pharmaceutical innovation due to its substantial development potential. The market is projected to expand at a 12.5% CAGR from 2024 to 2034, gaining a 5.70% market share. Some of the key developments propelling the market's growth are as follows:

• The interest in synthetic biology applications is fueled by Japan's expanding need for sustainable energy, healthcare, and agricultural solutions.
• Japan offers a wealth of genetic resources for bioprospecting and bioengineering because of its high biodiversity.
• Japan's biotechnology and life sciences industries have seen a rise in investment from both public and private sectors.
• Japan's synthetic biology research and development is facilitated by its huge pool of contract research organizations (CROs) and cost-effective manufacturing capabilities.

Establishments Shaping the Outlook of the Synthetic Biology Industry

The future and trajectory of the global synthetic biology industry are significantly shaped by market participants through their innovative approaches, collaborative efforts, and strategic investments.

These businesses are at the forefront of creating innovative technologies, spearheading R&D initiatives, and bringing synthetic biology solutions to market across various industries.

Organizations such as Agilent Technologies, Inc. and Thermo Fisher Scientific, Inc. constantly push the frontiers of synthetic biology by investing in research and development and creating new instruments, methods, and applications.

They use synthetic biology to tackle urgent environmental and societal issues, including customized health, renewable energy generation, and sustainable agriculture.

Establishments such as Medichem and Bota Bio fuel market growth by forming strategic alliances and working with universities, research centers, and other business stakeholders.

These partnerships promote technology transfer, information sharing, and the creation of new synthetic biology goods and services. Corporations proactively collaborate with regulatory bodies to effectively manage the intricate regulatory framework for synthetic biological products.

By guaranteeing compliance and resolving ethical and safety issues, businesses are gaining the faith and confidence of investors, regulators, and consumers in synthetic biology technology.

Market players are driving innovation, accelerating market adoption, and shaping the future of the global synthetic biology industry, positioning it as a key driver of economic growth and technological advancement in the forthcoming decade.

Recent Developments in the Synthetic Biology Industry

• In January 2024, Rice University established the Rice Synthetic Biology Institute (RSBI) in Texas to promote collaborative research in synthetic biology and convert it into beneficial technologies. The institute aims to attract global attention to Rice's esteemed synthetic biology program and retain top talent.
• In January 2024, Kerstin Göpfrich founded a research group at the Max Planck Institute for Medical Research in Heidelberg, Germany. The group focuses on engineering life and exploring new cell abilities to create new life forms.
• In November 2023, the United Kingdom-based team led by Ben Blount at the University of Nottingham developed a yeast strain with over 50% synthetic DNA, a significant achievement in the Saccharomyces cerevisiae (Sc) 2.0 project, a global effort to produce synthetic versions of the yeast genome.
• In July 2023, WPI researchers Eric Young and Kevin Keating developed a method to express genes across bacterial species by designing a generalized collection of DNA parts that can be used with multiple species to assemble DNA sequences.

Key Companies in the Synthetic Biology Market

• Thermo Fisher Scientific, Inc.
• Merck KGaA
• Novozymes
• Agilent Technologies, Inc.
• Codexis, Inc.
• Bota Biosciences Inc.
• Creative Biogene.
• Creative Enzymes.
• Enbiotix, Inc.
• Illumina, Inc.
• Eurofins Scientific
• New England Biolabs
• Pareto Bio, Inc.
• Scarab Genomics, Llc
• Synthego
• Twist Bioscience
• Synthetic Genomics Inc.
• BioBricks Foundation
• DIYbio
• Amyris
• Cyrus Biotechnology
• TeselaGen

Key Segments

By Product:

• Oligonucleotides
• Enzymes
• Synthetic Cells
• Cloning Technologies Kits
• Xeno-Nucleic Acids
• Chassis Organism

By Application:

• Healthcare
• Non-Healthcare

By End User:

• Biopharmaceutical manufacturers
• Academic and Government Research Institutes
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• Middle East and Africa

Frequently Asked Questions

How Big is Synthetic Biology Market?

The global synthetic biology market is expected to value at US$ 3.75 billion in 2024.

What are Synthetic Biology Products in the Market?

Products such as oligonucleotides, enzymes, synthetic cells, cloning technologies kits, xeno-nucleic acids, and chassis organisms are available in the market.

Which Countries are Leading the Synthetic Biology Market?

The synthetic biology market is controlled by the United Kingdom, China, India, Japan, and Germany.

What is the Market Growth Outlook by 2034?

The synthetic biology market is anticipated to surpass US$ 31.73 billion by 2034.

What is the Growth Potential of the Market from 2024 to 2034?

The industry is anticipated to grow at a CAGR of 23.8% from 2024 to 2034.